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The Cyclopedia of New Zealand [Otago & Southland Provincial Districts]

The Otago Farmers' Co-Operative Association Of New Zealand, Limited

The Otago Farmers' Co-Operative Association Of New Zealand, Limited , Crawford Street, Dunedin. Bankers, Bank of Australasia. Telegraphic address, “Otago Farmers', Dunedin.” Managing Director Mr. James Harrison. Auctioneer and Produce Manager, Mr Lachlan Maclean, Secretary, Mr. John Couchman. This Association was incorporated in February, 1895, to buy and sell goods, stores, consumable articles, and effects of all kinds; to offer facilities to farmers for shipment of their produce to the various markets of the world, and to appoint agents in various localities for the furtherance of that object; to make advances upon such real and personal securities as might be approved of by the directors, and to extend the business in any direction that might seem likely to benefit the members. The nominal capital of the Association was £20,000, in 20,000 shares of £1 each. During the earlier part of the existence of the Association its progress was satisfactory, but in 1900, owing to the severe losses arising from a fall of prices in the London wool market, the young company met with a reverse in its steady progress. The shareholders, however, had every confidence in the Association as a profitable undertaking, and, with the increased volume of business being done in Dunedin and at the various agencies, the directors had every hope of the deficiencies being soon made up. New shares were, therefore, taken up, and this enabled the Association to extend its operations, with the result that the Association overcame temporary difficulties and strengthened its financial position. Five shares in the Dunedin Saleyards Company were bought, and these gave the Association a valuable asset and a status not previously enjoyed. A large and commodious warehouse and offices in brick were built in Crawford Street, where sales of rabbit and sheep skins are held, respectively on Monday and Tuesday. Live stock sales are held each Wednesday at Burnside sale-yards; and country stock sales are held monthly at Owaka, and fortnightly at Balclutha. The Association executes orders for farm implements and machinery, manures and seeds, cornsacks, woolpacks, ironmongery, household stores and farmers' requisites of all kinds on the most favourable terms. It is sole agent in Otago for the Farmers' Co-operative Fire and Marine Insurance Association of New Zealand. The Association is now a prosperous and dividend-paying concern, and its future promises to be one of unlimited extension.